|
J Sainsbury PLC - London-based grocer - Sainsbury’s starts on Friday the share buyback programme worth up to £300 million that it announced with its annual results on Thursday. The buyback will be run by broker Shore Capital Stockbrokers Ltd and will be completed by the end of the current financial year on February 27, 2027. The first tranche is worth up to £200 million and will be completed by the mid-point of the financial year on September 11. All repurchased shares will be cancelled. On Thursday, Sainsbury’s said pretax profit rose 2.0% to £619 million in the 52 weeks that ended February 28 from £607 million the year before. Revenue, excluding VAT but including fuel, increased 2.7% to £33.65 billion from £32.77 billion. Looking ahead, Sainsbury noted it is in a ‘strong competitive position’ after another year of good progress. Current stock price: 346.80 pence, up 2.0% on Friday morning in London 12-month change: up 33% Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
